1031 Situation Need to ID by Jan 26

Investor · St. Augustine, FL · Member since 2016 · 75 posts · 46 votes

ISO commercial income producing property in North or Central Florida - space coast, orlando, Gainesville, Jax, St Augustine, Daytona, etc.

$1M equity, $2.5M debt

multi, retail, storage, small bay

mid teen IRR target

please contact me with any prospects. thanks

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Joel OwensBusiness Member

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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes

9mo

Pick one asset class for your 1031 exchange.

If you are all over the place commercial brokers won't give you the time of day to present deals. At least the top level ones won't.

First question they will ask is if you are only looking at one asset class and if not what is your preference number 1 to number 3.

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Caleb Triumph
Member since 2025 · 11 posts · 2 votes
9mo
I'd love to help with a bridge if anything comes up! could also maybe help find the deal. We can secure 1-10 million in as fast as 11 days if you'd be interested!
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Henry ClarkPro Member
Developer · Member since 2020 · 4k+ posts · 4k+ votes
9mo
OP this is just an example I would check out. Not vetted.
1717 E Frankford Ave; Panama City, Fl; actually two properties
Listed at $3,490,000 since August. Thus, I would challenge the price, should be sold by now.
Although I think the price is fair, subject to a Capex review. Check out insurance and property tax. Plus, how you would manage. Whether local, or how close you are, can do remote. Check on any flooding issues.
It's in a good market position compared to competition, subject to doing a boots on the ground drive around for 2 or 3 miles.
There a couple of value add revenue generations on this property.
5% assumable loan, no details.
You could do a year 1 depreciation write-off subject to a cost segregation which would be easy on this property.
Also subject to the Loan terms, you might wait a year and pull cash out, if you have another deal. Or might go for a SBA loan at 10% down if possible, taking more cash out. See if any 1031 timing stipulations.
Luckily, you're in Florida and have lots of targets.
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Joel OwensBusiness Member
Moderator
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
9mo
Pick one asset class for your 1031 exchange.
If you are all over the place commercial brokers won't give you the time of day to present deals. At least the top level ones won't.
First question they will ask is if you are only looking at one asset class and if not what is your preference number 1 to number 3.
Podcast Guest on Show #47
NNN Invest53 Reviews
Website View Page
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